In a Business Account, is it possible to have multiple Authorized Signers?

• A. False
• B. True
• C. Only a single signer is allowed
• D. Signers are not used in business accounts

Answer: (B)

Multiple authorized signers in a business account are common and support solid internal controls. A business can designate more than one person to sign checks or approve transactions, often with defined signing limits and roles. This arrangement helps with continuity if someone is unavailable and strengthens oversight by enabling appropriate approvals for larger or sensitive transactions. Banks maintain a current list of authorized signers on file and may require regular updates and documentation of each signer’s authority, including any dual-control or tiered-signing arrangements to mitigate AML risks. Therefore, it is possible to have multiple Authorized Signers.